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LifeMiles

Full company profile

uuid00099lq

Namestring
LifeMiles
Legal namestring
LifeMiles (Avianca's Frequent Flyer Program)
Websiteurl
lifemiles.com
Company typeenum
Private
Founded yearint
2010
Descriptiontext

LifeMiles is the unified frequent flyer loyalty program of Avianca, founded around 2010 following the merger of Avianca and TACA and operated out of Bogotá, Colombia under Avianca's ownership within the Abra Group holding structure. The program serves 14+ million subscribed members across Latin America and globally, enabling them to earn miles through Avianca flights, co-branded credit cards issued by 100+ banking partners, and purchases with 200+ retail partners, and to redeem those miles for award flights, travel extras, and partner products across 25+ airline partners serving 1,300+ destinations. The core technology is a closed-loop loyalty currency platform with a five-tier Elite Program (6,000 to 110,000 qualifying miles) granting status benefits including Avianca VIP Lounge access, seat selection, and Business Class upgrades; no public API, SDK, or documented integrations are listed.

The business model monetizes miles as a proprietary currency: LifeMiles generates revenue by selling miles to partners (banks, retailers, airlines) and directly to members via purchase plans and credit-card spend, profiting from the spread between miles issued (cost of partner payouts and breakage assumptions) and miles redeemed. Members are primarily individual consumers acquired through a direct-to-consumer motion at lifemiles.com and through Avianca digital channels, with the bulk of distribution driven by co-branded credit card partnerships with 100+ banks and a 200+ retail partner network. The program's strategic and financial significance is underscored by its inclusion as collateral in Avianca Group's $1 billion senior secured notes issuance, validating the loyalty program assets as a balance-sheet-grade intangible within the post-Chapter 11 capital structure. Leadership is Matt Vincett (CEO), Raul Lara (CFO), and Valeria Yglesias (Chief Commercial Officer). The program has received over 20 Freddie Awards from the frequent travel industry over its 15-year operating history.

Short descriptiontext

LifeMiles is Avianca's frequent flyer loyalty program, serving 14+ million members globally with miles earned through flights, 100+ bank co-branded credit cards, and 200+ shopping partners, redeemable across 25+ airlines and 1,300+ destinations.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersBogotá, Colombia
HQ citystring
Bogotá
HQ countrystring
Colombia
HQ regionstring
Latin America
Markets served

Serves global market

Keyword5 values
airline loyalty program, frequent flyer miles, co-branded travel credit cards, aviation rewards program, elite travel benefits
Industry2 codes
1Loyalty Program Management Platforms (Earn/Burn, Rules Engine, Member Lifecycle)
CodeTHALAKAAPrimaryYes
2Elite Status & Benefits (Tiers, Upgrades, Lounge Access)
CodeTHABAKAFPrimaryNo
NAICS code1 code
  • Other Nonscheduled Air Transportation481219
SIC code1 code
  • Air Transportation, Scheduled4512
Product category
Airline Loyalty Program
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model2 records
1Mile currency transactions
TypeTransaction Fee
Description

LifeMiles earns revenue by selling miles to members through credit card spending, mile purchase plans, and partner transactions. The program monetizes the spread between miles earned from partners and miles redeemed for awards.

lifemiles.com
2Loyalty program assets as collateral
TypeLicensing Royalties
Description

LifeMiles loyalty program assets serve as collateral for Avianca Group's debt financing, demonstrating the program's value as a financial asset. The $1 billion senior secured notes issuance included collateral liens on LifeMiles loyalty program assets.

finance.yahoo.com
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Marketing or Sales, Technology or R&D, Operations, Others
Pricing details1 tier
1Business class international awards
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Business class to London at 69,000 miles each way with taxes around $46-56; business class to Cairo/Kenya at 78,000-80,000 miles

pointsyeah.com
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

LifeMiles is Avianca's frequent flyer loyalty program that enables members to earn miles through Avianca flights, co-branded credit card spending, and purchases with retail partners, and to redeem miles for award flights, travel extras, and partner products. The program includes a tiered Elite Program offering benefits such as VIP Lounge access, seat selection, and Business Class upgrades, and serves over 14 million members across 1,300+ global destinations.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 2 values shown
  • 14+ million members subscribed
+1 more record
Product overview1 text field

LifeMiles is Avianca's frequent flyer loyalty program, serving as a single unified platform for earning and redeeming miles. The program integrates an Elite Program tier system (with 5 status tiers based on qualifying miles) alongside core earning and redemption functionality, allowing members to earn miles through 25 airline partners, 100+ bank partners, and 200+ shopping partners, and redeem across 1,300+ global destinations.

Product and service2 records
1LifeMiles Frequent Flyer Program
CategoryAirline Loyalty Program
Description

Avianca's frequent flyer loyalty program that allows individual members to earn miles through Avianca flights, co-branded credit card purchases, and transactions with 200+ retail partners, and redeem miles for flights, travel extras, and partner products across 1,300+ destinations worldwide.

2LifeMiles Elite Program
CategoryAirline Loyalty Program
Description

Tiered elite status program rewarding frequent LifeMiles travelers with exclusive benefits including Avianca VIP Lounge access, priority seat selection, and Business Class upgrades across five tiers requiring 6,000, 12,000, 24,000, 45,000, or 110,000 qualifying miles.

Scale indicator7 records

Each record includes

Type, Value, Description, Source

Partnership4 partners
Strategic tierCoreTypeStrategic or Co-development Partner
Description

Avianca is the primary airline partner and parent brand for LifeMiles. LifeMiles is Avianca's frequent flyer program, allowing members to earn miles on Avianca flights and redeem for award travel on Avianca's 169 routes across 82 destinations.

225+ Airline Partners
Strategic tierCoreTypeStrategic or Co-development Partner
Description

LifeMiles members can earn and redeem miles on 25+ airline partners, providing access to over 1,300 destinations worldwide. This star alliance-style network expands the program's global reach beyond Avianca's own routes.

lifemiles.com
Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

LifeMiles has partnerships with over 100 banks to offer co-branded credit cards that allow members to earn miles on everyday purchases. These partnerships drive significant new member acquisition and mile earning opportunities.

Strategic tierMinorTypeChannel Partner/ Reseller/ Distributor
Description

LifeMiles has over 200 shopping partners in its network, enabling members to earn miles on retail purchases and other consumer transactions beyond travel.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

American Airlines' OneWorld-anchored loyalty program. Comparable member base scale, co-branded credit card monetization, and elite status benefits.

TypeDirect peer
Description

LATAM Airlines' frequent flyer program, the principal direct competitor in the South American market. Similar member economics, airline-anchored earning, and award redemption across partner networks.

TypeDirect peer
Description

Delta Air Lines' loyalty program, comparable in scale and operating model. Uses dynamic award pricing, Amex partnership, and elite tier systems to drive member engagement and revenue.

4United MileagePlus
TypeDirect peer
Description

United Airlines' loyalty program with global Star Alliance earning/redemption. Closely comparable in award-chart structure, partner network breadth, and elite tier economics.

TypeDirect peer
Description

IAG's flagship loyalty program with Avios currency, worldwide airline partnerships, and tiered elite status. Comparable in international award redemption and co-branded bank card distribution.

TypeDirect peer
Description

Air France-KLM's SkyTeam loyalty program with revenue-based mile earning and dynamic pricing. Comparable in partner banking network and international award redemption.

TypeBroad incumbent
Description

Marriott's global hotel loyalty program, comparable in scale, member base, and elite tier structure. Transfer partner airline programs are interconnected, positioning it as a competing currency in the travel rewards ecosystem.

8Smiles (GOL Linhas Aéreas)
TypeDirect peer
Description

Sister loyalty program under Abra Group, serving GOL Airlines in Brazil. Directly comparable as a Latin American airline loyalty program with member earning via flights, co-branded cards, and shopping partners.

TypeDirect peer
Description

Europe's largest airline loyalty program with extensive partner network. Comparable in earn/burn mechanics, elite status benefits, and partner-driven revenue model.

TypeBroad incumbent
Description

Major credit card rewards program from JPMorgan Chase that transfers to multiple airline loyalty programs (including LifeMiles). Comparable as a competing currency for travel rewards and competition for top-of-funnel consumer engagement.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat6 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

LifeMiles

Airline Loyalty Programlifemiles.com

LifeMiles is Avianca's frequent flyer loyalty program, serving 14+ million members globally with miles earned through flights, 100+ bank co-branded credit cards, and 200+ shopping partners, redeemable across 25+ airlines and 1,300+ destinations.

What LifeMiles does

LifeMiles is the unified frequent flyer loyalty program of Avianca, founded around 2010 following the merger of Avianca and TACA and operated out of Bogotá, Colombia under Avianca's ownership within the Abra Group holding structure. The program serves 14+ million subscribed members across Latin America and globally, enabling them to earn miles through Avianca flights, co-branded credit cards issued by 100+ banking partners, and purchases with 200+ retail partners, and to redeem those miles for award flights, travel extras, and partner products across 25+ airline partners serving 1,300+ destinations. The core technology is a closed-loop loyalty currency platform with a five-tier Elite Program (6,000 to 110,000 qualifying miles) granting status benefits including Avianca VIP Lounge access, seat selection, and Business Class upgrades; no public API, SDK, or documented integrations are listed.

The business model monetizes miles as a proprietary currency: LifeMiles generates revenue by selling miles to partners (banks, retailers, airlines) and directly to members via purchase plans and credit-card spend, profiting from the spread between miles issued (cost of partner payouts and breakage assumptions) and miles redeemed. Members are primarily individual consumers acquired through a direct-to-consumer motion at lifemiles.com and through Avianca digital channels, with the bulk of distribution driven by co-branded credit card partnerships with 100+ banks and a 200+ retail partner network. The program's strategic and financial significance is underscored by its inclusion as collateral in Avianca Group's $1 billion senior secured notes issuance, validating the loyalty program assets as a balance-sheet-grade intangible within the post-Chapter 11 capital structure. Leadership is Matt Vincett (CEO), Raul Lara (CFO), and Valeria Yglesias (Chief Commercial Officer). The program has received over 20 Freddie Awards from the frequent travel industry over its 15-year operating history.

LifeMiles firmographics

Firmographics
Name
LifeMiles
Legal name
LifeMiles (Avianca's Frequent Flyer Program)
Website
https://lifemiles.com
Company type
Private
Founded year
2010
Operating status
Operating
Headcount range
251–500 employees
Short description
LifeMiles is Avianca's frequent flyer loyalty program, serving 14+ million members globally with miles earned through flights, 100+ bank co-branded credit cards, and 200+ shopping partners, redeemable across 25+ airlines and 1,300+ destinations.
Ownership category
akta.pro rank

LifeMiles industry classification

Industry
Product category
Airline Loyalty Program
NAICS
Other Nonscheduled Air Transportation (481219)
SIC
Air Transportation, Scheduled (4512)
akta.pro primary industry
Loyalty Program Management Platforms (Earn/Burn, Rules Engine, Member Lifecycle) (THALAKAA)
akta.pro secondary industry
Elite Status & Benefits (Tiers, Upgrades, Lounge Access) (THABAKAF)

Keywords

  • Airline loyalty program
  • Frequent flyer miles
  • Co-branded travel credit cards
  • Aviation rewards program
  • Elite travel benefits

Where LifeMiles is headquartered

Location

Headquarters

HQ city
Bogotá
HQ country
Colombia
HQ region
Latin America

Markets served

LifeMiles business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Personnel, Marketing or Sales, Technology or R&D, Operations, Others

Revenue model

  1. Mile currency transactions: LifeMiles earns revenue by selling miles to members through credit card spending, mile purchase plans, and partner transactions. The program monetizes the spread between miles earned from partners and miles redeemed for awards.
  2. Loyalty program assets as collateral: LifeMiles loyalty program assets serve as collateral for Avianca Group's debt financing, demonstrating the program's value as a financial asset. The $1 billion senior secured notes issuance included collateral liens on LifeMiles loyalty program assets.

Pricing tiers

ModelBillingPrice
Unit PricingPay-as-you-goBusiness class international awards

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

LifeMiles product offering

Product offering

Core offering

LifeMiles is Avianca's frequent flyer loyalty program that enables members to earn miles through Avianca flights, co-branded credit card spending, and purchases with retail partners, and to redeem miles for award flights, travel extras, and partner products. The program includes a tiered Elite Program offering benefits such as VIP Lounge access, seat selection, and Business Class upgrades, and serves over 14 million members across 1,300+ global destinations.

Product overview

LifeMiles is Avianca's frequent flyer loyalty program, serving as a single unified platform for earning and redeeming miles. The program integrates an Elite Program tier system (with 5 status tiers based on qualifying miles) alongside core earning and redemption functionality, allowing members to earn miles through 25 airline partners, 100+ bank partners, and 200+ shopping partners, and redeem across 1,300+ global destinations.

Differentiator

Problem solved

Functional benefit

Products and services

  • LifeMiles Frequent Flyer Program Avianca's frequent flyer loyalty program that allows individual members to earn miles through Avianca flights, co-branded credit card purchases, and transactions with 200+ retail partners, and redeem miles for flights, travel extras, and partner products across 1,300+ destinations worldwide.
  • LifeMiles Elite Program Tiered elite status program rewarding frequent LifeMiles travelers with exclusive benefits including Avianca VIP Lounge access, priority seat selection, and Business Class upgrades across five tiers requiring 6,000, 12,000, 24,000, 45,000, or 110,000 qualifying miles.

Quantifiable outcome

  • 14+ million members subscribed
  • +1 more outcomes

Companies that use LifeMiles

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles2 records

LifeMiles technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

LifeMiles partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and minor.

  • AviancacoreStrategic or Co-development PartnerAvianca is the primary airline partner and parent brand for LifeMiles. LifeMiles is Avianca's frequent flyer program, allowing members to earn miles on Avianca flights and redeem for award travel on Avianca's 169 routes across 82 destinations.
  • 25+ Airline PartnerscoreStrategic or Co-development PartnerLifeMiles members can earn and redeem miles on 25+ airline partners, providing access to over 1,300 destinations worldwide. This star alliance-style network expands the program's global reach beyond Avianca's own routes.
  • 100+ Banking PartnerscoreChannel Partner/ Reseller/ DistributorLifeMiles has partnerships with over 100 banks to offer co-branded credit cards that allow members to earn miles on everyday purchases. These partnerships drive significant new member acquisition and mile earning opportunities.
  • 200+ Shopping PartnersminorChannel Partner/ Reseller/ DistributorLifeMiles has over 200 shopping partners in its network, enabling members to earn miles on retail purchases and other consumer transactions beyond travel.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

LifeMiles competitors and assessment

Company assessment

Direct peers

  • American AAdvantage: American Airlines' OneWorld-anchored loyalty program. Comparable member base scale, co-branded credit card monetization, and elite status benefits.
  • LATAM Pass: LATAM Airlines' frequent flyer program, the principal direct competitor in the South American market. Similar member economics, airline-anchored earning, and award redemption across partner networks.
  • Delta SkyMiles: Delta Air Lines' loyalty program, comparable in scale and operating model. Uses dynamic award pricing, Amex partnership, and elite tier systems to drive member engagement and revenue.
  • United MileagePlus: United Airlines' loyalty program with global Star Alliance earning/redemption. Closely comparable in award-chart structure, partner network breadth, and elite tier economics.
  • British Airways Executive Club: IAG's flagship loyalty program with Avios currency, worldwide airline partnerships, and tiered elite status. Comparable in international award redemption and co-branded bank card distribution.
  • Air France-KLM Flying Blue: Air France-KLM's SkyTeam loyalty program with revenue-based mile earning and dynamic pricing. Comparable in partner banking network and international award redemption.
  • Smiles (GOL Linhas Aéreas): Sister loyalty program under Abra Group, serving GOL Airlines in Brazil. Directly comparable as a Latin American airline loyalty program with member earning via flights, co-branded cards, and shopping partners.
  • Lufthansa Miles & More: Europe's largest airline loyalty program with extensive partner network. Comparable in earn/burn mechanics, elite status benefits, and partner-driven revenue model.

Broad incumbents

  • Marriott Bonvoy: Marriott's global hotel loyalty program, comparable in scale, member base, and elite tier structure. Transfer partner airline programs are interconnected, positioning it as a competing currency in the travel rewards ecosystem.
  • Chase Ultimate Rewards: Major credit card rewards program from JPMorgan Chase that transfers to multiple airline loyalty programs (including LifeMiles). Comparable as a competing currency for travel rewards and competition for top-of-funnel consumer engagement.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

LifeMiles social profiles

Digital presence

LifeMiles financial estimates

Financial estimate

Revenue estimate

Valuation estimate

LifeMiles leadership team

Management profile

Number of profiles

Profiles3 records

LifeMiles funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

LifeMiles M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LifeMiles

What does LifeMiles do?

LifeMiles is Avianca's frequent flyer loyalty program that enables members to earn miles through Avianca flights, co-branded credit card spending, and purchases with retail partners, and to redeem miles for award flights, travel extras, and partner products. The program includes a tiered Elite Program offering benefits such as VIP Lounge access, seat selection, and Business Class upgrades, and serves over 14 million members across 1,300+ global destinations.

Is LifeMiles a public or private company?

LifeMiles is a private company. It is classified as corporate owned and is currently operating.

When was LifeMiles founded?

LifeMiles was founded in 2010. It employs 251 to 500 people.

Where is LifeMiles based?

LifeMiles is headquartered in Bogotá, Colombia, in the Latin America region.

How does LifeMiles make money?

Two revenue lines are on record. Mile currency transactions are the primary driver. The others are loyalty program assets as collateral.

Who are LifeMiles's main competitors?

Direct peers on record are American AAdvantage, LATAM Pass, Delta SkyMiles, United MileagePlus, British Airways Executive Club, Air France-KLM Flying Blue, Smiles (GOL Linhas Aéreas) and Lufthansa Miles & More. Broad incumbents are Marriott Bonvoy and Chase Ultimate Rewards.

Does LifeMiles have an API?

No public API is recorded for LifeMiles.

What industry is LifeMiles in?

LifeMiles's product category is Airline Loyalty Program. Its primary akta.pro industry code is THALAKAA, Loyalty Program Management Platforms (Earn/Burn, Rules Engine, Member Lifecycle), with a secondary code of THABAKAF, Elite Status & Benefits (Tiers, Upgrades, Lounge Access). Its NAICS code is 481219 and its SIC code is 4512.

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Live signals
FailoryTop 3 Loyalty Programs Unicorns in 2024A listicle identifies three loyalty program companies that have reached unicorn status, citing valuation, funding and founder details. Fetch Rewards is valued at $2.50B with $341.51M across eight rounds; Bilt Rewards at $1.50B with $213.30M across four rounds; and LifeMiles at $1.15B with $343.70M in a single round.PR NewswireLifeMiles firma un contrato de siete años con IBS SoftwareLifeMiles has signed a seven-year contract with IBS Software to replace its internal loyalty platform with the iFly Loyalty solution. The agreement, finalized in San José, Costa Rica, aims to support LifeMiles' growth strategies and enhance customer engagement through advanced analytics and personalized benefits. This partnership marks a strategic expansion for IBS Software into the Central American and Latin American markets.PR NewswireLifeMiles signe un contrat de sept ans avec IBS SoftwareLifeMiles, the leading loyalty program in Central America and the Andean Pact region and Avianca's loyalty program, has signed a seven-year, multi-million dollar contract with IBS Software to replace its internal loyalty platform with IBS's iFly Loyalty suite. The contract was signed last week in San José, Costa Rica, marking IBS's first customer in the Central America region and representing a strategic expansion win for the technology provider. The platform will support LifeMiles' growth objectives, enhance member benefits, and enable expansion into new market segments across the region.PR NewswireLifeMiles unterzeichnet 7-Jahres-Vertrag mit IBS SoftwareLifeMiles, the leading loyalty program in Central America and the Andean region of South America and frequent flyer program for Avianca, signed a multi-million dollar 7-year contract with IBS Software on March 22, 2017, in San José, Costa Rica. Under the agreement, IBS Software's iFly Loyalty Suite will replace LifeMiles' existing internal loyalty platform, providing advanced partner management, customer relationship capabilities, and analytics tools. The contract represents IBS Software's first customer in the Central American region and supports LifeMiles' growth ambitions across the region and beyond.PR NewswireLifeMiles firma contrato por siete años con IBS SoftwareLifeMiles, the loyalty program of Avianca operating across Central America and the Andean region, has signed a seven-year contract with IBS Software to replace its internal loyalty platform with IBS's iFly Loyalty system. The agreement was signed in San José, Costa Rica, and marks IBS's first customer in the Central American region. LifeMiles, which serves over 7 million members, said the platform will support its growth ambitions and enhance personalized benefits for members.PR NewswireLifeMiles Assina Contrato de Sete Anos com IBS SoftwareLifeMiles, the leading loyalty program in Central America and the Andean region and the mileage program for Avianca, signed a seven-year multi-million dollar contract with IBS Software in San José, Costa Rica. IBS will replace LifeMiles' internal loyalty platform with its iFly Loyalty suite, providing expanded partnership management, customer relationship tools, and enhanced analytics capabilities. The deal marks IBS Software's first customer in Central America and is expected to support LifeMiles' growth ambitions and market expansion across the region.PR NewswireLifeMiles Inks Seven Year Contract With IBS SoftwareIBS Software has been selected by LifeMiles to replace its in-house loyalty platform under a multi-million seven-year contract signed in San José, Costa Rica. Once implemented, IBS' iFly Loyalty suite will serve as the core platform for LifeMiles, which has grown to over 7 million members and is the loyalty program for Avianca. The deal is positioned as a strategic win for IBS, marking its first customer in the Central American region and providing a foundation for expanding its footprint across the Latin American market.